Pinnacle Wealth Planning Services Inc. Has $1.10 Million Stake in Intuit Inc. (NASDAQ:INTU)

Pinnacle Wealth Planning Services Inc. lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 21.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,752 shares of the software maker's stock after selling 465 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Intuit were worth $1,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus lifted their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Intuit Trading Down 0.7%

Shares of INTU stock traded down $5.18 on Friday, reaching $752.04. 2,887,091 shares of the stock were exchanged, compared to its average volume of 1,625,454. The stock has a market cap of $210.24 billion, a PE ratio of 73.01, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $761.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day moving average price of $630.69 and a 200 day moving average price of $623.50.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.88 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit's dividend payout ratio is presently 33.77%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 16,185 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $753.21, for a total value of $12,190,703.85. Following the completion of the sale, the executive vice president now owns 22,796 shares of the company's stock, valued at $17,170,175.16. This represents a 41.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,804 shares of company stock worth $138,081,963. 2.68% of the stock is owned by insiders.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.